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Formosa Plastics Group selects Lloydâs Registerâs to optimize chemical plant inspection
4/7/2021
Lloydâs Register, a professional services company specializing in engineering and technology solutions, is to deploy its asset performance and risk management solution AllAssets across 94 of Formosa Plastic Groupâs Taiwanese plants.
Formosa Plastics Group, one of Taiwan s top petrochemical companies and a world leading producer of polyvinyl chloride resins, is working with Lloydâs Register to achieve operational excellence through Industry 4.0. The partnership is part of a companywide programme of digitalisation that Formosa Plastics Group has introduced to enhance long-term competitiveness while maintaining its commitment to environmental protection, social prosperity and economic development.
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Resolving non-conformance reports (NCRs) is a fundamental step in managing performance and risk of critical assets. Lloyd’s Register, a professional services company specialising in engineering and technology solutions, has said that users of its asset performance and risk management platform AllAssets will now benefit from a new module called events management.
The new module will allow users to create a robust approach for meeting requirements associated with managing NCRs. By closely tracking non-conformance through to resolution using events management, maintenance and integrity teams gain ultimate transparency over resolution progress and ownership. This better ensures that events are not only identified but that action is taken before issues become a tangible environmental, economic or safety threat. Further, in keeping with Lloyd Register’s vision of empowering companies to fully manage their risks, users can design the entire process of managing NCRs thems